Intra-Cellular Therapies (ITCI) Stock Rating Reaffirmed by Cantor Fitzgerald

Intra-Cellular Therapies (NASDAQ:ITCI)‘s stock had its “buy” rating reissued by research analysts at Cantor Fitzgerald in a report released on Monday, AnalystRatings.com reports. They currently have a $26.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 108.00% from the stock’s current price.

The analysts wrote, “Core to our investment thesis is the complete NDA filing for lumateperone in schizophrenia, which we believe has a high probability of approval based on two large studies that met their primary endpoints and a positive pre-NDA meeting with FDA. In addition, Luma’s differentiated pharmacology results in tolerability and a benign safety profile unlike other approved APs. Section may be found on pages 4 – 5.ITCI Valuation.””

Several other research firms have also issued reports on ITCI. BidaskClub raised Intra-Cellular Therapies from a “strong sell” rating to a “sell” rating in a research report on Saturday, February 2nd. Zacks Investment Research lowered Intra-Cellular Therapies from a “buy” rating to a “hold” rating in a research report on Thursday, December 20th. Finally, ValuEngine raised Intra-Cellular Therapies from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Intra-Cellular Therapies currently has an average rating of “Hold” and a consensus price target of $27.00.

Shares of ITCI stock traded down $0.11 on Monday, hitting $12.50. 18,519 shares of the stock traded hands, compared to its average volume of 316,510. The firm has a market cap of $695.06 million, a P/E ratio of -4.40 and a beta of 1.38. Intra-Cellular Therapies has a 1-year low of $10.21 and a 1-year high of $23.64.

Intra-Cellular Therapies (NASDAQ:ITCI) last posted its quarterly earnings results on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.91) by $0.16. On average, equities research analysts forecast that Intra-Cellular Therapies will post -4.05 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC grew its stake in Intra-Cellular Therapies by 3.3% during the 4th quarter. Squarepoint Ops LLC now owns 25,366 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 799 shares during the last quarter. Legal & General Group Plc grew its stake in Intra-Cellular Therapies by 9.4% during the 4th quarter. Legal & General Group Plc now owns 16,044 shares of the biopharmaceutical company’s stock worth $183,000 after buying an additional 1,374 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Intra-Cellular Therapies by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 210,060 shares of the biopharmaceutical company’s stock worth $2,393,000 after buying an additional 2,516 shares during the last quarter. Citigroup Inc. grew its stake in Intra-Cellular Therapies by 19.7% during the 4th quarter. Citigroup Inc. now owns 22,585 shares of the biopharmaceutical company’s stock worth $257,000 after buying an additional 3,719 shares during the last quarter. Finally, Rhenman & Partners Asset Management AB grew its stake in shares of Intra-Cellular Therapies by 0.8% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 659,982 shares of the biopharmaceutical company’s stock worth $7,517,000 after purchasing an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 68.80% of the company’s stock.

About Intra-Cellular Therapies

Intra-Cellular Therapies, Inc, a biopharmaceutical company, engages in developing novel drugs for the treatment of neuropsychiatric and neurodegenerative disorders. The company is developing its lead drug candidate, lumateperone for the treatment of schizophrenia, bipolar disorder, behavioral disturbances associated with dementia, autism, and other CNS diseases.

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